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. that has dramatic effects on medicare. what is the best approach to put medicare on a permanently secure financial footing? >> putting medicare on a firm financial footing is going to first of all, involve repealing obamacare. look, let's take a look at what obamacare does to medire. first thing it does is it cuts $700 billion out of medicare. it's pretty hard to say you're in favor of medicare and cut 7er hundred billion dollars out of it. let's take a look at the second thing it does which is even worse. creates a 15 person board that will effectively be the people deciding who gets medical treatment and who doesn't. this is rationing. this is government rationing. if you want medicare to work properly, what we need to do is get away from the concept that the government has to do everything. in medicare right now, the government sets the prices of the cost of everything in medicine. we don't want the government setting prices. what in fact, we should allow series of people offer medicare to seniors and let them choose which one they want. it's a whole lot better to choose from differ
and grandparents on medicare are paying hundreds less for their prescription drugs. our young people can stay on their parents' insurance until they're 26 years old. [applause] insurance companies now have to cover basic preventative care. things like contraception, cancer screening. they won't be able to discriminate against you because you have a preexisting condition like diabetes or asthma, and if you get a serious illness -- let's say breast cancer -- and you need expensive treatment. they can no longer tell you sorry, you hit your lifetime limit and we're not covering a penny more. that is illegal because of health reform. and as eli mentioned, when it comes to giving our young people the education they deserve -- see, barack knows that like me and like so many of you he never, never couch attended college without financial aid. never. in fact, as i shared in my speech in charlotte, when we were first married, our combined student loan bills were higher than our mortgage. when it comes to student debt, barack and i, we've been there. this is not a hypothetical. that's why barack fought
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